| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $15M | $17M | $17M | -12.0% | -12.5% |
| Op. Income | -$25M | -$24M | -$33M | -4.2% | 25.1% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | -151.7% | -131.4% | -182.7% | -20.3pp | 31.0pp |
| EPS (Diluted) | $-1.06 | $-1.05 | $-1.47 | -1.0% | 27.9% |
| Free Cash Flow | -$16M | -$26M | -$30M | 37.3% | 47.1% |
| Item | Amount |
|---|---|
| REVENUE | $15M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $15M |
| R&D Expenses | $28M |
| Selling & Marketing | $0 |
| General & Administrative | $11M |
| SG&A Expenses | $11M |
| Other Expenses | $0 |
| Operating Expenses | $39M |
| Cost & Expenses | $39M |
| OPERATING INCOME | -$25M |
| Interest Income | $2M |
| Interest Expense | $2M |
| Other Income/Expenses | $578.0K |
| INCOME BEFORE TAX | -$24M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | -$23M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$23M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$23M |
| D&A | $1M |
| EBIT | -$22M |
| EBITDA | -$21M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$23M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | -$13M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$55M |
| Sales/Maturities of Investments | $53M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$7M |
| NET CASH FROM FINANCING | -$7M |
| FREE CASH FLOW | -$16M |
| Net Change in Cash | -$25M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $60M |
| Short-Term Investments | $133M |
| Net Receivables | $41M |
| Inventory | $0 |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $243M |
| PP&E (Net) | $77M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $3M |
| TOTAL NON-CURRENT ASSETS | $80M |
| TOTAL ASSETS | $323M |
| Account Payables | $5M |
| Short-Term Debt | $31M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $46M |
| Long-Term Debt | $127M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $243.0K |
| TOTAL NON-CURRENT LIABILITIES | $184M |
| TOTAL LIABILITIES | $229M |
| Common Stock | $214.0K |
| Additional Paid-In Capital | $462M |
| Retained Earnings | -$368M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$224.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $94M |
| Minority Interest | $0 |
| TOTAL EQUITY | $94M |
| TOTAL LIABILITIES & EQUITY | $323M |
| Total Debt | $216M |
| Net Debt | $156M |
